Sinopec begins construction of Tianjin crude oil reserve base

12 May 2010 08:10[Source: ICIS news]

SHANGHAI (ICIS news)--China’s Sinopec has begun construction of a commercial crude oil reserve base in northern Tianjin with a storage capacity of 3.2m cubic metres (cbm), the company said on Wednesday.

The base would include 32 reserve tanks with a capacity of 100,000 cbm each, Sinopec said.

A 22km crude oil pipeline would be built to transport oil to tanks, the company said.

Construction work, which began on 11 May, was expected to take two years, the company added.

"The base in Tianjin will help to stabilise fuel supply in north China that has an important significance in ensuring the country’s crude oil supply security,” Wang Tianpu, president of Sinopec, said at the base’s ground-breaking ceremony.